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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #113,181
  • Jun 14, 2012 9:11am Jun 14, 2012 9:11am
Quoting mbqb11
thanks buddy I am! Hope you are too


And simple is the best right

Mike
Hi Mike,

Yes, so simple, but on a H1 TF
i'm too young to watch this, i've been said it's a grown-up only TF

What do you think of the H4 XAUUSD? can this be considered as a BEOB?
Not at a swing high, but at a strong weekly HCR.
Would it be a valid signal to target 1600-something??

Thanks for your help and dedication!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2012 06 14 xauusd d1.gif Size: 24 KB
Click to Enlarge Name: 2012 06 14 xauusd h4.gif Size: 22 KB
Slow & steady
  • #113,182
  • Jun 14, 2012 9:17am Jun 14, 2012 9:17am
Quoting patapouer
Hi Mike,

Yes, so simple, but on a H1 TF
i'm too young to watch this, i've been said it's a grown-up only TF

What do you think of the H4 XAUUSD? can this be considered as a BEOB?
Not at a swing high, but at a strong weekly HCR.
Would it be a valid signal to target 1600-something??

Thanks for your help and dedication!!
Hey P

See if this chart helps

It's playing out price just dipped deeper into that lower box(which of course can happen the market is the controller)

http://www.forexfactory.com/showthre...85#post5737485

so good confluence here if we break higher which it looks like price wants too

Hope it helps!
Mike
  • #113,183
  • Jun 14, 2012 9:34am Jun 14, 2012 9:34am
Quoting mbqb11
Hey P

See if this chart helps

It's playing out price just dipped deeper into that lower box(which of course can happen the market is the controller)

http://www.forexfactory.com/showthre...85#post5737485

so good confluence here if we break higher which it looks like price wants too

Hope it helps!
Mike
ok, got it.

this thread is moving too fast for my tiny brain...

thanks again
Slow & steady
  • #113,184
  • Jun 14, 2012 11:10am Jun 14, 2012 11:10am
Quoting patapouer
Hi Allan,

I'm not Mike, but he did send a chart on this.
See post http://www.forexfactory.com/showthre...31#post5734031

all the best
thanks patapouer and mike. i figured he would have posted somewhere but didn't go far enough back to find it.
  • #113,185
  • Jun 14, 2012 11:39am Jun 14, 2012 11:39am
Quoting jarroo
Can you show the Weekly levels on the pair . .many "crazy crosses" like this one, I will look to the Weekly levels only and even the Monthly levels .
Yup , here are the recent weekly levels ....
Attached Image (click to enlarge)
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Human
  • #113,186
  • Jun 14, 2012 11:44am Jun 14, 2012 11:44am
I am right in assuming that we should be short on this pair right about now , initial stops should have been above the yellow zone and are about to be taken out ????
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Human
  • #113,187
  • Jun 14, 2012 11:52am Jun 14, 2012 11:52am
On the same pair NDZ CHF
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Human
  • #113,188
  • Jun 14, 2012 11:58am Jun 14, 2012 11:58am
Quoting mbqb11
chart I am watching.
UUMMM , Mike , correct me if I am wrong but should'nt the bottom trendline be something like this ???
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Human
  • #113,189
  • Jun 14, 2012 12:01pm Jun 14, 2012 12:01pm
Quoting Chanya
I am right in assuming that we should be short on this pair right about now , initial stops should have been above the yellow zone and are about to be taken out ????
On the daily chart, the first touch back to this weekly level was on 6/7 last week. Price bounced nicely right to the FTA at which point you would either TP or go to BE. The next day's bar closed above the weekly level which should have gotten any shorts out. A Jarroo style trade might have you go long at on a retest of the level which went straight the upper FTA. If anyone caught these two trades....hats off to you!

I love Jarroo's methodology and am learning that you must be very disciplined to REACT at the FTA's or Risk getting caught when price goes the other way because you haven't moved your stop to BE or taken profit. This has happened to me MANY times. Like my twice divorced friend tells me: "Some people have to learn the hard way!"
Attached Image (click to enlarge)
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  • #113,190
  • Jun 14, 2012 12:06pm Jun 14, 2012 12:06pm
Quoting Chanya
UUMMM , Mike , correct me if I am wrong but should'nt the bottom trendline be something like this ???
Hey C

That would still be the same story, but a pattern is contained from that first bounce of the 1.0 extending the TL really doesn't change the story but we want to look at the specific pattern by itself, which the two TLs I drew line up and contain price in a much more proper way. Notice mine touches the swing points perfectly where your starts to distort through price. I like the clean TLs the best

Best
Mike
  • #113,191
  • Jun 14, 2012 12:08pm Jun 14, 2012 12:08pm
Quoting Mebius
On the daily chart, the first touch back to this weekly level was on 6/7 last week. Price bounced nicely right to the FTA at which point you would either TP or go to BE. The next day's bar closed above the weekly level which should have gotten any shorts out. A Jarroo style trade might have you go long at on a retest of the level which went straight the upper FTA. If anyone caught these two trades....hats off to you!

I love Jarroo's methodology and am learning that you must be very disciplined to REACT at the FTA's or Risk getting caught when...
Thanks ... Found my mistake ... I Am/Was not in the trade ... Was just back testing ... This time frame frame switching thing is taking sometime for me to learn ...
Human
  • #113,192
  • Jun 14, 2012 12:27pm Jun 14, 2012 12:27pm
Quoting Mebius
O

I love Jarroo's methodology and am learning that Iyou must be very disciplined to REACT at the FTA's or Risk getting caught when price goes the other way because you haven't moved your stop to BE or taken profit. This has happened to me MANY times. Like my twice divorced friend tells me: "Some people have to learn the hard way!"
I agree with the bolded 100%. My tendency is to think every trade is destined to become a runner. I hate to say this, but a few weeks ago I actually watched a trade go from 120 or so pips in profit to a 1/2 risk loss. Definitely learned from that one.

It's really a critical concept for any and all trades.....recognize your trouble areas and react.
  • #113,193
  • Jun 14, 2012 12:39pm Jun 14, 2012 12:39pm
Quoting Donkey
I agree with the bolded 100%. My tendency is to think every trade is destined to become a runner. I hate to say this, but a few weeks ago I actually watched a trade go from 120 or so pips in profit to a 1/2 risk loss. Definitely learned from that one.

It's really a critical concept for any and all trades.....recognize your trouble areas and react.
You are not alone Donkey. I've watched profit turn into a loss 3 times this week. It's all a learning experience. On the bright side, i'm not beating myself up about it nearly as much as i used to which is progress in my book.
  • #113,194
  • Jun 14, 2012 12:51pm Jun 14, 2012 12:51pm
Anyone watching GBPNZD? 2.00 BRN, strong downtrend and price looking to close below today. If the weekly can close below, will look for PA to get short OR touch on retrace? Notice the Daily PB off a weekly level where the move started on 5/23. Classic J16.
Attached Image(s) (click to enlarge)
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  • #113,195
  • Jun 14, 2012 1:00pm Jun 14, 2012 1:00pm
I'm short in this pair.
Nice doji candle oh 1h tf in the resistence zone
  • #113,196
  • Jun 14, 2012 1:04pm Jun 14, 2012 1:04pm
possible jump up, isnt it?
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all is eternal - this is good news for people who loves bad news
  • #113,197
  • Jun 14, 2012 1:21pm Jun 14, 2012 1:21pm
Quoting C-12
Ok I've just finished reading Jim's posts from day 1. Phew!

Seems to make sense to me. Here's a H1 attempt on the GBPUSD.
Hey man,
this is actually one of the best trades i have seen of a new guy to the thread! Very well thought, you saw a lot!
I was watching it, but passed because i wanted to see a stronger sign of break (maybe a big outside bar). Inside bars can be tricky especially on the small timeframes. But anyway i really enjoyed your analysis ! Absolutely logical.
This was a loser, but many of these will be winners.
  • #113,198
  • Jun 14, 2012 3:46pm Jun 14, 2012 3:46pm
This setup looks very interesting.

I suspect Mike might have his eye on that
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  • #113,199
  • Jun 14, 2012 6:00pm Jun 14, 2012 6:00pm
BTW ,

Was this guy a James16 student?

Basically he is teaching the same PA stuff and uses 150/365 emas as confluence.


http://www.learntotradethemarket.com...trading-course
  • #113,200
  • Jun 14, 2012 6:27pm Jun 14, 2012 6:27pm
Quoting Greenhaze
This setup looks very interesting.

I suspect Mike might have his eye on that
sure do, will be watching the pullback area now

http://www.forexfactory.com/showthre...07#post5760507


Mike
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